Trade terms
Export - to send goods or services across national frontiers for the purpose of selling and realizing foreign exchange.
Exports - products of local origin sold to other countries.
Capital export - The flow of capital out of one country into overseas direct investments or loans, mainly in the form of short-term credit. Direct investments are usually made in shares of trade, industrial, and banking sectors.
Exporter - For customs purposes, the party who makes (or on whose behalf an agent or broker makes) the export declaration. The exporter sells its goods to someone in another country, known as the importer.
Export manager - the person in charge of an export department in a company.
Export licence - a government permit allowing something to be exported.
Import export - referring to business which deals with both bringing foreign goods into a country and sending locally made goods abroad.
INCOTERMS - International commercial terms. Thirteen terms of sale accepted worldwide in assignment of costs and responsibilities between the buyer and the seller. Proposed, updated, and copyrighted by the International Chamber Of Commerce (ICC), they serve as global standards for uniform interpretation of common contract clauses in international trade. The last revision (1999) is named 'INCOTERMS 2000.' In brief these terms are (1) C&F (Cost And Freight), (2) CIF (Cost, insurance, And Freight), (3) Delivered At Frontier, (4) Delivered Duty Paid, (5) Ex quay, (6) Ex ship, (7) Ex works, (8) FAS (Free Alongside Ship), (9) FOB (Free On Board), (10) FOB Airport, (11) FOR/FOT (Free On Rail/Free On Truck), (12) Free carrier, (13) Free Carriage Paid To and Free Carriage Paid To And insurance.Export duty - a tax paid on goods sent out of a country for sale.
Free on board (FOB) - Term of sale under which the price invoiced or quoted by a seller includes all charges up to placing the goods on board a ship at the port of departure specified by the buyer. Also called collect freight, freight collect, or freight forward.
Cost, insurance, freight (CIF) - A shorthand term for signifying that the price invoiced or quoted by a seller includes insurance and all other charges up to the named port of destination. In comparison, carriage and insurance paid to (CIP) terms include insurance and all charges up to a named place in the country of destination (usually the buyer's warehouse). See also cost and freight (C&F).
Exports - products of local origin sold to other countries.
Capital export - The flow of capital out of one country into overseas direct investments or loans, mainly in the form of short-term credit. Direct investments are usually made in shares of trade, industrial, and banking sectors.
Exporter - For customs purposes, the party who makes (or on whose behalf an agent or broker makes) the export declaration. The exporter sells its goods to someone in another country, known as the importer.
Export manager - the person in charge of an export department in a company.
Export licence - a government permit allowing something to be exported.
Import export - referring to business which deals with both bringing foreign goods into a country and sending locally made goods abroad.
INCOTERMS - International commercial terms. Thirteen terms of sale accepted worldwide in assignment of costs and responsibilities between the buyer and the seller. Proposed, updated, and copyrighted by the International Chamber Of Commerce (ICC), they serve as global standards for uniform interpretation of common contract clauses in international trade. The last revision (1999) is named 'INCOTERMS 2000.' In brief these terms are (1) C&F (Cost And Freight), (2) CIF (Cost, insurance, And Freight), (3) Delivered At Frontier, (4) Delivered Duty Paid, (5) Ex quay, (6) Ex ship, (7) Ex works, (8) FAS (Free Alongside Ship), (9) FOB (Free On Board), (10) FOB Airport, (11) FOR/FOT (Free On Rail/Free On Truck), (12) Free carrier, (13) Free Carriage Paid To and Free Carriage Paid To And insurance.Export duty - a tax paid on goods sent out of a country for sale.
Free on board (FOB) - Term of sale under which the price invoiced or quoted by a seller includes all charges up to placing the goods on board a ship at the port of departure specified by the buyer. Also called collect freight, freight collect, or freight forward.
Cost, insurance, freight (CIF) - A shorthand term for signifying that the price invoiced or quoted by a seller includes insurance and all other charges up to the named port of destination. In comparison, carriage and insurance paid to (CIP) terms include insurance and all charges up to a named place in the country of destination (usually the buyer's warehouse). See also cost and freight (C&F).
